RICH PHARMACEUTICALS, INC. (OTCMKTS:RCHA) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 to correct the amount of debt which was converted.
Except as stated herein, this Current Report on Form 8-K/A does
not reflect events occurring after the filing of the Original
Form 8-K on February 21, 2017 and no attempt has been made is
this Current Report on Form 8-K/A to modify or update other
disclosures as presented in the Original Form 8-K. Accordingly,
this Form 8-K/A should be read in conjunction with the Original
Form 8-K and our filings with the SEC subsequent to the filing of
the Original Form 8-K.
| Item 3.02 | Unregistered Sales of Equity Securities |
The descriptions of the equity securities described in Item 1.01
issued by the Company are incorporated herein.
On February 22, 2017, the Company issued 71,500,000 shares of
Company common stock to satisfy the conversion of $4,290.00 of a
convertible note payable with GHS Investments, LLC. The total
number of outstanding shares of common stock of the Company as of
February 22, 2017 after the above described issuance is
1,433,424,310. The issuances of shares were made in reliance on
the exemption provided by Section 4(2) of the Securities Act for
the offer and sale of securities not involving a public offering.
The Company’s reliance upon Section 4(2) of the Securities Act
in issuing the securities was based upon the following factors:
(a) the issuance of the securities was an isolated private
transaction by us which did not involve a public offering; (b)
there was only a one investor who was an accredited investor; (c)
there were no subsequent or contemporaneous public offerings of
the securities by us; (d) the securities were not broken down
into smaller denominations; and (e) the issuance of shares was to
a convertible note payable which was negotiated directly between
the investor and the Company.
About RICH PHARMACEUTICALS, INC. (OTCMKTS:RCHA)
Rich Pharmaceuticals, Inc. is a development-stage company. The Company is a biopharmaceutical company focused on developing and commercializing therapies in oncology. The Company is developing 12-O-tetradecanoylphorbol-13-acetate (RP-323) for the treatment of Hodgkin’s lymphoma (HL), Acute Myelogenous Leukemia (AML) and to cause elevation of white blood cells in patients depleted of these elements due to various conditions. RP-323 is a naturally occurring compound. RP-323 converts cancer cells to normal cells, a process called differentiation. It is also observed in some instances to cause cancer cell death. Clinical studies in over 100 cancer patients demonstrated the ability of RP-323 to stimulate the production of white blood cells and neutrophils. The Company has no products ready for commercialization. The Company had no revenues during the period ending March 31, 2016. RICH PHARMACEUTICALS, INC. (OTCMKTS:RCHA) Recent Trading Information
RICH PHARMACEUTICALS, INC. (OTCMKTS:RCHA) closed its last trading session 00.00000 at 0.00010 with shares trading hands.
